CORPORATE
ANNOUNCEMENTS
Ranbaxy gets FDA nod to make, market Loratadine Syrup
RANBAXY Laboratories Ltd (RLL) has received approval from the US Food and Drug Administration (FDA) to manufacture and market Loratadine Syrup that is available to patients as an over-the-counter (OTC) product. Basically an anti-allergy drug, ...
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L&T bags Rs 187-cr contract from China
LARSEN & Toubro's heavy engineering division has won its third successive contract from China for the supply of critical coal gasification equipment, a news release from the company said. The contract from the Shenhua group is worth Rs 187 ...
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Natural gas does not find favour with Tata Steel
AT a time when several major integrated steel plants are queuing up for natural gas linkage to reduce their rising coal bill, Tata Steel has discounted the importance of natural gas in steel making. Having rich captive sources of metallurgical ...
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Vizag Steel cuts prices by Rs 1,000 a tonne
LIKE the other major steel plants in the country, Visakhapatnam Steel Plant too has decided to reduce the prices of its products. In a release, the plant said that with effect from Tuesday, the prices of all its products would be brought down ...
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ACCOUNTING STANDARDS
`Need to harmonise accounting norms'
WITH corporate finance reporting assuming an increasingly crucial role in the globalised environment, the need to harmonise accounting standards with global accounting standards was stressed by the participants of the National Conclave on ...
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PREFERENTIAL ALLOTMENTS
FACOR allots shares to promoters, FIs
FERRO Alloys Corporation Ltd (FACOR) has informed the stock exchanges that its Allotment Committee of Directors in a meeting held on Saturday has allotted 7,85,51, 455 equity shares of Re 1 each and 7,64,016 preference shares of Rs 100 each ...
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Nelco to hike authorised capital base
NELCO Ltd has informed the National Stock Exchange that it plans to increase its authorised capital base to Rs 50 crore from the existing Rs 25 crore through equity and preference shares. The Rs 50 crore would comprise 2.50 crore equity shares ...
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CORPORATE DISPUTES
Priyamvada will case hearing begins today
FOX & Mandal, the solicitors representing Mr R.S. Lodha in his fight against the Birla clan, on Tuesday announced that they have served affidavits in opposition. The hearing, which will be Kolkata High Court's most high-profile case in recent ..
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INSIGHT
Innovative edge
IT IS a truism that corporates can survive in the era of global competition and advances in technology only by constantly renewing themselves and presenting to the customers and stakeholders convincing evidence of ...
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COURTS/LEGAL ISSUES
SC panel for closure of Hind Insecticides unit — Proposes Rs 2.5-cr fine for polluting river
A MONITORING Committee on Hazardous Waste set up by the Supreme Court has recommended that the public sector Hindustan Insecticides Ltd (HIL) at Eloor near here should be closed down in view of the environmental pollution it creates. The ...
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MERGERS & ACQUISITIONS
Bhilwara Group to offload 49 pc in Malana Power to foreign partner
THE LNJ Bhilwara Group has initiated a restructuring of its hydro-power business. The group has two projects - 90 MW Malana Power project which has been operational for the last three years and a 200 MW Allan Duhangan project, under a new ...
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Hindalco to gain from merger in long term
THE merger of Indian Aluminium Company Ltd (Indal) with Hindalco Industries Ltd is seen as a logical procedure to its acquisition four years ago and may show very little tangible benefits at the current juncture but could augur well in terms of ...
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Gestetner, Ricoh merger at 1:6 share swap ratio
IN a bid to improve operational efficiencies and profitability, and aim for a dominant position in the market, office automation companies Gestetner India and Ricoh India, both subsidiaries of Ricoh Japan, have decided to merge into a single ...
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CORPORATE GOVERNANCE
`Big cos can improve market cap by doing social good'
THE Institute of Directors, which celebrated its 15th anniversary last week, started with the basic aim of improving the competitiveness of the director fraternity. "But we believe that our role has changed and stakeholders demand much more than ...
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ALLIANCES & JOINT VENTURES
Taj Hotels forges tie-up with Raffles International
TAJ Hotels, Resorts and Palaces has joined the Singapore-based Raffles International Ltd in a marketing alliance that aims to leverage cross-promotional opportunities. Raffles International is the hotel management arm of Raffles Holdings Ltd, ...
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VBC arm signs PPA with Power Trading Corp
VBC Industries Ltd, the Hyderabad-based company that had disposed of its bottling and chemical divisions a couple of years ago and diversified into power segment, has entered into a power purchase agreement (PPA) with Power Trading Corporation ...
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Baker Tilly to expand in India
BAKER Tilly International, the world's tenth largest chartered accountants group, is looking at scaling up its Indian presence, courtesy its tie-up with K. S. Aiyar & Co, a local professional services firm. The London-based outfit has just ...
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INTERVIEW
Madras Cements not to raise funds thru equity
CEMENT manufacturers in the South had a bad start this financial year as consumption dropped in the April-June quarter. In this situation, Madras Cements stood out because its net profit increased, largely on account of a tight control over ...
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OUTLOOK
TVS Motor eyes 15 pc rise in bike sales
TVS Motor Company Ltd hopes to record a 15-16 per cent rise in motorcycle sales in fiscal 2004-05. In 2003-04, the company sold over 7.12 lakh motorcycles, a spokesperson said. The company manufactures and markets three models of the 150-cc TVS ...
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Technology council to help Grasim cut fuel costs by 25%
GRASIM is in talks with a Government body, Technology Information, Forecasting and Assessment Council (TIFAC), to acquire a technology that would enable it to use refuse derived fuel (RDF) instead of coal as fuel in its cement plants. With this ...
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L&T looks overseas for low-cost facility
LARSEN & Toubro Ltd is currently looking for a low-cost manufacturing centre outside India, particularly China and Eastern Europe, for production of various kinds of machinery, according to the company's board member and President (Operations),
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